The Research Of Dynamic Analysis Of M&A Capability

Countries attach great importance to mergers and acquisitions. Mergers and Acquisitions can be seen great significances for business, industry and the country's economic development. The successful M&A actives can expand enterprises' size to achieve their strategic objectives. However, not all enterprises can have successful M&A activities, which depend on enterprises'M&A capability. It is a real problem that how to study M&A capability.Based on the capability theory of enterprises, this article from the following aspects analysis's and researches M&A capability. Firstly, this article analysis's the theory of M&A capacity, define this ability as'It is the specialized capability that enterprises can gain competitive advantage and achieve corporate strategic objectives through M&A activities'. From the elements of resource and capacity, M&A Capability includes resources, operation ability on M&A, and managerial ability on M&A. Secondly, this article researches what is the dynamic of the M&A capability and dynamic mechanism of the M&A capability. The dynamic of the M&A capability includes the time's dynamic, open feature and changeable feature. The dynamic mechanism includes the clarity, code, share, internalization of the knowledge of acquisition. At last, this article verifies the dynamic theory of merger and acquisition and the business understands how to build M&A capabilities in practice through the study of China Minmetals Corporation case.This article studies M&A capability from the aspect of the dynamic analysis. The enterprises can see the dynamic mechanism of M&A capability through this study, which helps enterprises enhance their M&A capability, conducive business to obtain strategic objectives and make the company have a competitive advantage.